Practice MCQ with Answer of Business Research Methods MCQ Set 8. Also practice other multiple choice question answer set for Business Research Methods. Must give online exam quiz of Conflict Resolution and Management and assess your knowledge.
Business Research Methods MCQ and Quiz Page
Q281: What is Type I error in hypothesis testing? Answer: a) Rejecting the null hypothesis when it is true
a) Rejecting the null hypothesis when it is true
b) Accepting the null hypothesis when it is false
c) Failing to reject the null hypothesis when it is true
d) Failing to accept the null hypothesis when it is false
Answer
Q282: What is Type II error in hypothesis testing? Answer: c) Failing to reject the null hypothesis when it is true
a) Rejecting the null hypothesis when it is true
b) Accepting the null hypothesis when it is false
c) Failing to reject the null hypothesis when it is true
d) Failing to accept the null hypothesis when it is false
Answer
Q283: What is the purpose of confidence intervals in inferential statistics? Answer: a) To determine the range of values within which the population parameter is likely to fall
a) To determine the range of values within which the population parameter is likely to fall
b) To calculate the probability of obtaining a certain sample mean
c) To determine the statistical significance of the results
d) To test the hypothesis and make predictions
Answer
Q284: Which of the following is an example of a non-parametric test? Answer: b) Chi-square test
a) Student’s t-test
b) Chi-square test
c) Analysis of Variance (ANOVA)
d) Regression analysis
Answer
Q285: What is the primary goal of prescriptive analytics? Answer: c) To optimize decision-making and provide actionable recommendations
a) To analyze historical data and identify patterns
b) To make predictions and forecast future outcomes
c) To optimize decision-making and provide actionable recommendations
d) To summarize and describe data using statistical measures
Answer
Q286: Which type of analytics focuses on answering the question “What is likely to happen in the future?” Answer: b) Predictive analytics
a) Descriptive analytics
b) Predictive analytics
c) Prescriptive analytics
d) Inferential analytics
Answer
Q287: What is the difference between descriptive analytics and inferential analytics? Answer: b) Descriptive analytics summarizes and describes data, while inferential analytics makes predictions and draws conclusions about populations.
a) Descriptive analytics focuses on historical data, while inferential analytics focuses on future predictions.
b) Descriptive analytics summarizes and describes data, while inferential analytics makes predictions and draws conclusions about populations.
c) Descriptive analytics uses statistical tests, while inferential analytics uses data visualization techniques.
d) Descriptive analytics is used in prescriptive analytics, while inferential analytics is used in predictive analytics.
Answer
Q288: What is the primary technique used in prescriptive analytics? Answer: b) Decision trees
a) Regression analysis
b) Decision trees
c) Cluster analysis
d) Factor analysis
Answer
Q289: What is the purpose of sensitivity analysis in prescriptive analytics? Answer: b) To assess the robustness of the analytical model to changes in inputs
a) To identify outliers in the data
b) To assess the robustness of the analytical model to changes in inputs
c) To calculate probabilities and risk assessments
d) To identify patterns and trends in the data
Answer
Q290: Which type of analytics focuses on optimizing decisions and finding the best course of action? Answer: c) Prescriptive analytics
a) Descriptive analytics
b) Predictive analytics
c) Prescriptive analytics
d) Exploratory analytics
Answer
Q291: Which of the following is NOT a commonly used technique in prescriptive analytics? Answer: c) Cluster analysis
a) Optimization modeling
b) Simulation
c) Cluster analysis
d) Decision analysis
Answer
List of Business Research Methods mcq practice set
- Business Research Methods mcq practice set 1
- Business Research Methods mcq practice set 2
- Business Research Methods mcq practice set 3
- Business Research Methods mcq practice set 4
- Business Research Methods mcq practice set 5
- Business Research Methods mcq practice set 6
- Business Research Methods mcq practice set 7
